China approves 4 new IPOs
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China's national securities regulator has approved the initial public offering (IPO) applications of four companies.

Beijing Yuanliu Hongyuan Electronic Technology, Ningxia Baofeng Energy Group, Sinofibers Technology, and Shenzhen New Land Tool Planning & Architectural Design will be listed on the A-share market, the China Securities Regulatory Commission (CSRC) said in a statement.

It didn't specify the total amount of funds to be raised.

The companies and their underwriters will confirm IPO dates and publish their prospectuses following discussions with the stock exchanges.

Under the current IPO system, new shares are subject to approval from the CSRC. China is gradually switching from an approval-based IPO system to one based on registration.

Author： 　　　Source：xinhua　　　 Editor：Yang Fan